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Sep 30, 2022
Inter Parfums Q3 2022 Earnings Report
Inter Parfums reported record results for the third quarter of 2022 and raised its 2022 sales and EPS guidance.
Key Takeaways
Inter Parfums, Inc. reported record third-quarter results, with net sales increasing, driven by growth in European and U.S. operations. The company raised its 2022 net sales and diluted EPS guidance, anticipating continued strong performance despite global economic challenges.
Third quarter net sales increased, with a notable contribution from new brands.
European operations experienced sales growth in constant euro terms, although reported sales declined due to foreign exchange rates.
U.S. operations saw a significant increase in sales, bolstered by new brands and organic growth from established brands.
The company raised its 2022 net sales and diluted EPS guidance, projecting continued growth despite economic headwinds.
Inter Parfums
Inter Parfums
Forward Guidance
Inter Parfums raised its 2022 guidance, expecting net sales of $1.025 billion and diluted EPS of $3.40, despite facing challenges such as inflation, COVID-19 restrictions in China, and supply chain disruptions.
Positive Outlook
- Strong year-to-date performance.
- Healthy projections for the remainder of the year.
- Budgeting 21% of annual net sales for advertising and promotion.
- Optimistic about prospects for the coming year.
- Will invest in business to continue to gain market share and long-term growth.
Challenges Ahead
- Confronting inflation.
- COVID-19 restrictions in China.
- Relentless strengthening of the U.S. dollar.
- Supply chain disruptions.
- Recessionary fears globally.